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Divestment criticised

Dilution of equity will adversely affect the policy of a sovereign economy: AITUC

NEW DELHI: The central trade unions, barring the Indian National Trade Union Congress, have condemned the Centre's decision to disinvest part of the equity in the National Aluminium Company, the Neyveli Lignite Corporation and the National Mineral Development Corporation.

The public sector undertakings are profit-making and dilution of their equity will adversely affect the policy of a self-reliant sovereign economy, All-India Trade Union Congress general secretary Gurudas Dasgupta told reporters here on Tuesday.

"Disinvestment of profit-making PSUs violates the National Common Minimum Programme and we will oppose it tooth and nail," he said.

The AITUC has asked to Government to reverse the "retrograde action" of selling national assets. If the Government ignored the widespread opposition, the unions would intensify the struggle, which might include a general strike, he said.

NALCO employee unions plan to go on strike on June 30, while the All-India NMDC Workers Federation has called for a one-day strike on July 7, and an indefinite strike from August 4. In Tamil Nadu NLC employees have decided to go on indefinite strike from July 4.